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3.12 Contract Renewal Wage Works FSA0 Otkzo MINNESOTA V DEPARTMENT INFORMATION Request for City Council Action ORIGINATING DEPARTMENT REQUESTOR: MEETING DATE: Administration Human Resources/Assistant City Admin. Hille October 25, 2021 PRESENTER(s) REVIEWED BY: ITEM #: Consent City Administrator/Finance Director Flaherty 3.12 — Wage Works FSA STRATEGIC VISION MEETS: THE CITY OF OTSEGO: ARE YOU SEEKING APPROVAL OF A CONTRACT? Is a strong organization that is committed to leading the community through innovative communication. Yes Has proactively expanded infrastructure to responsibly provide core services. BACKGROUND/JUSTIFICATION: Is committed to delivery of quality emergency service responsive to community needs and expectations in a cost-effective manner. X Is a social community with diverse housing, service options, and employment opportunities. Is a distinctive, connected community known for its beauty and natural surroundings. AGENDA ITEM DETAILS RECOMMENDATION: City staff recommends the City Council approve a contract with Wage Works for Flexible Spending Account administration. ARE YOU SEEKING APPROVAL OF A CONTRACT? IS A PUBLIC HEARING REQUIRED? Yes No BACKGROUND/JUSTIFICATION: The City of Otsego offers a voluntary Flexible Spending Account (FSA) benefit. The City has contracted with Wage Works for FSA administration, and City Staff is requesting a renewal of the contract to continue FSA administration through Wage Works. This is used for employees to have the program administrator and ensure compliance with FSA requirements. SUPPORTING DOCUMENTS ATTACHED: • Wage Works Contract POSSIBLE MOTION PLEASE WORD MOTION AS YOU WOULD LIKE ITTO APPEAR IN THE MINUTES: Motion to approve renewal on Wage Works Flexible Spending Account administration. BUDGET INFORMATION FUNDING: BUDGETED: Fund 101 — General Fund Yes HealthEquity Order Form Employer: City Of Otsego 13400 90th St. NE Otsego, MN 55330 Effective Date*: 1/1/2022 Initial Term End Date: 12/31/2024 Services: Payment Method: Wire / ACH Credit or Check Payment Terms: Within 30 days of receipt of invoice Service Charge on Overdue Amounts: 2% Per Month Service Name Fee Type Fee Description FSA Admin Fee $7.00 PPPM Per Participant Per Month FSA Monthly Minimum $0.00 Monthly Monthly Fee $50.00 Compliance Fee Implementation Fee Implementation Fee $0.00 Non -Discrimination Additional Service $0.00 Administrative fees are waived for initial Testing - Initial Fee nondiscrimination testing. Ongoing nondiscrimination testing session must be requested separately (fees may apply). Plan Documents - Additional Service $0.00 Administrative fees are waived for initial Plan Document Initial Fee and Summary Plan Description (SPD) (while employer is in implementation). Ongoing Plan Document and SPD service must be requested separately. Terms and Conditions. This Order Form is subject to HQY's General Terms and Conditions of Service that may be viewed at httns://resources.healtheouitv.com/Documents/Emlover/General Terms and Conditions All Accounts.pdf, and all terms defined therein shall have the same meaning in this Order Form unless otherwise specified herein. *This Order Form shall be effective as of 1/1/2022 (unless this Order Form is incomplete or does not match our records). Billing shall commence upon start of Service(s) or next billing period following the effective date, whichever is later. Signature: Name (print): City Of Otsego Page 1 - Document Generated October 11, 2021 HealthEquity- Title: Employer: Date: City Of Otsego Page 2 - Document Generated October 11, 2021